Twelve products may face trade origin fraud investigation: Authority

The Trade Remedies Authority of Vietnam TRAV under the Ministry of Industry and Trade has revealed a list of 12 products which are likely to face trade origin fraud or illegal transshipment investigations
twelve products may face trade origin fraud investigation authority

Illustrative image (Photo: baodautu.vn)

They include plywood made from hardwoods, foam cushions, wood cabinets, artificial stones, bronze pipes, steel couplers, steel wheels and pre-processed steel.

Gas cylinders, cardboard box staplers for export to the US, truck and coach tyres for EU export, and electric bicycles to the US and EU may also be subjected to investigation.

Those products enjoyed high export revenues in 2019.

Particularly, the revenue from wood cabinets increased to US$1.37 billion last year from US$913 million in 2018, a year-on-year surge of 50%.

US import of artificial stones from Vietnam expanded 2.5 times to US$118.2 million in 2019 from US$46.3 million the previous year.

Meanwhile, Vietnam’s export of truck and coach tyres to the EU surged to EUR69 million (US$75.03 million) in 2019. The country raked in EUR87.5 million from electric bicycle exports to the EU and US$18.6 million to the US in 2019.

In addition, investigations and anti-dumping measures have been imposed on similar products in other countries, including China, India and Turkey.

Under the Prime Minister’s Decision 824/QD-TTg on issuing the plan to strengthen the management on prevention of evasion of trade defence and origin fraud, the TRAV is responsible for building a system for reporting products involved in trade protection probes.

Source: VNA

Related News

Maintain fiscal policy to "open the way" for the economy in 2024

Maintain fiscal policy to "open the way" for the economy in 2024

VCN - According to Dr. Can Van Luc, member of the National Financial and Monetary Policy Advisory Council (as picture), to maintain high and sustainable growth momentum in the next 1-2 years, the Government still needs to continue to prioritize fiscal policy tools with the support of monetary policy to promote domestic aggregate demand. In particular, to further accelerate economic recovery, it is necessary to apply support policies similar to the Covid-19 epidemic and "stimulate" consumption and private investment.
Customs collects nearly VND35,000 billion within one month

Customs collects nearly VND35,000 billion within one month

VCN - In April, the Customs revenue saw a significant increase compared to the previous month.
Customs revenue rises thanks to 3 imported groups

Customs revenue rises thanks to 3 imported groups

VCN - The economy in the first four months of 2024 is showing positive signs when import-export activities recover strongly, pushing up the trade turnover. In particular, both exports and imports recorded strong growth in many groups, contributing significantly to the revenue results of the Customs sector.
Vietnam has a trade deficit of over US$17 billion with China

Vietnam has a trade deficit of over US$17 billion with China

VCN – In the first quarter 2024, Vietnam-China trade reached US$43.6 billion. The country had a large trade deficit.

Latest News

Fighting smuggling on the Southwest border has no end in sight

Fighting smuggling on the Southwest border has no end in sight

VCN - According to the assessment of the competent forces, smuggling activities and illegal transportation of goods across the Southwest border, although not creating hot spots, tend to develop in a complicated manner.
Why director of Saigon Port Import-Export and Services JSC suspended from exit?

Why director of Saigon Port Import-Export and Services JSC suspended from exit?

VCN - Ms. Luong Tieu Tran, born in 1979, Director of Saigon Port Import-Export and Services JSC, was temporarily suspended from leaving the country from May 14, 2024.
Why  antiquities importers proposed to be criminally prosecuted?

Why antiquities importers proposed to be criminally prosecuted?

VCN - The case of containers of antiques over 100 years old, dating from the 18th to the 20th century, seized by the Saigon Port Zone 4 Customs Branch (HCMC Customs Department), has just been transferred to the Police Investigation Agency (HCMC Police) for investigation.
Customs takes drastic measures to prevent gold and foreign currency smuggling

Customs takes drastic measures to prevent gold and foreign currency smuggling

VCN – The General Department of Vietnam Customs (GDVC) has requested the Anti-Smuggling and Investigation Department and relevant units to actively and strictly control and handle gold and foreign currency smuggling across borders.

More News

Fighting against smuggling and illegal trading of gold

Fighting against smuggling and illegal trading of gold

VCN - The Ministry of Finance has issued a telegram requesting the General Department of Customs and the General Department of Taxation to strengthen management and supervision measures to prevent smuggling and illegal g trading of gold.
Vicohn Biopharmaceutical Company Limited forced to suspend customs procedures for tax evasion

Vicohn Biopharmaceutical Company Limited forced to suspend customs procedures for tax evasion

VCN - Vicohn Biopharmaceutical Company Limited has been enforced to suspend customs procedures for tax debt of about VND 6 billion.
Establishing a "shell corporation" to transport drugs across the border

Establishing a "shell corporation" to transport drugs across the border

VCN - The transnational drug related crime situation continues to have many complicated developments. Notably, subjects sought to set up "shell corporation" to illegally produce and transport drugs.
Establishing a "shell corporation" to transport drugs across border

Establishing a "shell corporation" to transport drugs across border

VCN - The transnational drug crime situation continues to have many complicated developments. Notably, subjects sought to set up "shell corporation" to illegally produce and transport drugs.
Strengthening fight against smuggling, illegal cross-border transportation of goods

Strengthening fight against smuggling, illegal cross-border transportation of goods

VCN - The Ministry of Finance is requesting the General Department of Customs and the General Department of Taxation to strengthen inspection, supervision, and prevention of smuggling, trade fraud, and illegal transportation of goods across the border.
Prevent outbreaks of "dirty" food

Prevent outbreaks of "dirty" food

VCN - Ho Chi Minh City authorities are implementing strict market control and preventing "dirty" food to protect consumers and limit food poisoning cases.
Many company directors arrested for illegal invoice trading

Many company directors arrested for illegal invoice trading

VCN – The investigation agency said that many companies have bought invoices from illegal invoice trading rings to use in financial activities, accounting, tax reporting…
Launching Demeter X Operation about hazardous scrap and waste prevention

Launching Demeter X Operation about hazardous scrap and waste prevention

VCN - The leader of General Department of Vietnam Customs directed the Anti-smuggling and Investigation Department and local customs departments to focus on launching the Demeter X Operation to strengthen control and prevent illegal transportation of hazardous scraps and waste.
Strictly control and combat gold smuggling

Strictly control and combat gold smuggling

VCN – The General Department of Vietnam Customs (GDVC) requires local customs departments to strengthen inspection, control and prevention for illegal transportation of gold products across the border, and strictly monitor gold imports and exports of legitimate gold companies.
Read More

Your care

Latest Most read
Fighting smuggling on the Southwest border has no end in sight

Fighting smuggling on the Southwest border has no end in sight

VCN - According to the assessment of the competent forces, smuggling activities and illegal transportation of goods across the Southwest border, although not creating hot spots, tend to develop in a complicated manner.
Why director of Saigon Port Import-Export and Services JSC suspended from exit?

Why director of Saigon Port Import-Export and Services JSC suspended from exit?

VCN - Ms. Luong Tieu Tran, born in 1979, Director of Saigon Port Import-Export and Services JSC, was temporarily suspended from leaving the country from May 14, 2024.
Why  antiquities importers proposed to be criminally prosecuted?

Why antiquities importers proposed to be criminally prosecuted?

VCN - The case of containers of antiques over 100 years old, dating from the 18th to the 20th century, seized by the Saigon Port Zone 4 Customs Branch (HCMC Customs Department), has just been transferred to the Police Investigation Agency (HCMC Police) fo
Customs takes drastic measures to prevent gold and foreign currency smuggling

Customs takes drastic measures to prevent gold and foreign currency smuggling

VCN - Over the past time, the world and domestic gold and foreign currency markets have fluctuated strongly, affecting the stability and safety of the financial and currency markets and social psychology.
Fighting against smuggling and illegal trading of gold

Fighting against smuggling and illegal trading of gold

VCN - The Ministry of Finance has issued a telegram requesting the General Department of Customs and the General Department of Taxation to strengthen management and supervision measures to prevent smuggling and illegal g trading of gold.
Mobile Version